Axsome Therapeutics Stock Is Moving Lower: What's Going On?
Portfolio Pulse from Adam Eckert
Axsome Therapeutics Inc (NASDAQ:AXSM) shares are trading lower after the company proposed a public offering of common stock. The details of the offering have not been disclosed. The proceeds will be used to advance its late-stage pipeline, including funding existing and potential new clinical programs, products and product candidates, as well as to expand its commercialization efforts.
June 28, 2023 | 12:50 pm
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Axsome Therapeutics' stock price is trading lower due to the announcement of a public offering of common stock. The proceeds from the offering will be used to fund its late-stage pipeline and expand commercialization efforts.
The announcement of a public offering of common stock often leads to a decrease in the company's stock price in the short term due to the potential dilution of existing shares. The proceeds will be used to fund its late-stage pipeline and expand commercialization efforts, which could potentially lead to long-term growth.
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